The Nigerian Equities market opens the week on a positive note by 1.41 percent despite a dip in both trade volume and value relative to the previous trading session.
Trading on the Nigerian Stock Exchange (NSE) maintained last week’s gaining streak as it recorded the All Share Index (ASI) recorded 141 basis points gain on Monday, closing at 36,831.93bps while market capitalisation closed higher at N12.804 trillion.
The bulls continue to dominate the market as market breadth closed positive with 21 losers against 27 gainers.
However, volume and value of trades both declined by 28.55 percent and 19.96 percent respectively.
Other than the ASEM index that has remained unchanged at 1156.70 for days now, all other sector indices closed positive on Monday.
The flow of activities in the market for the day had a wide reach on the basis of the classification of stocks as regards the gainers’ chart as May&Baker, International Breweries, Sterling Bank, Total and Flour Mill made up the top five gainers while AG Leventis, Diamond Bank, Linkage Assurance, NAHCO and Unity Bank dominate the losers’ chart for the day.
Analysts at APT Securities believed that the positive outlook of the market for the past few days should seem enticing to some investors and as such expected an inevitable spike in the number of equities market investors if such a form is sustained.